ARIEL ARRANGES $10M SALE OF LONG ISLAND CITY DEVELOPMENT SITE

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NEW YORK CITY — Ariel Property Advisors has arranged the $10.2 million sale of a development site featuring approximately 78,000 buildable square feet. The property is located at 14-01, 14-07, and 14-19 Broadway on the border of Long Island City and Astoria. Shimon Shkury, Howard Raber, Victor Sozio, and Michael Tortorici of Ariel Property Advisors represented the seller, a private investor, and procured the buyer, a real estate investment group. The site is zoned for residential or mixed-use development and includes three contiguous lots with 182 feet of frontage on the north side of Broadway between 14th and 21st streets.

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